U.S. stocks were trending higher on Friday following reports that China’s President XI Jin Ping held talks with his U.S. counterpart, Joe Biden, for 90 minutes. While the talks did offer some relief, investors remain cautious about the pace of central banks moving to end accommodative monetary stimulus.
Dow futures were up 0.50%, S&P futures were up 0.40%, and Nasdaq futures were up 0.36% at the time of writing.
So-Young International Inc. (SY), Kroger Co. (KR), UP Fintech Holding Ltd. (TIGR), and FSD Pharma Inc. (HUGE) are set to report their quarterly earnings before the market opens. Applied Genetic Technologies Corp. (AGTC) and Dore Copper Mining Corp. (DRCMF) will report after the market close.
Camber Energy Inc. (CEI) was the most active stock in the pre-market session, with 4.60 million shares exchanging hands at the time of writing. The catalyst behind the increased market activity is unclear as no substantial news has been released.
IVERIC bio Inc. (ISEE) was the biggest gainer in the pre-market session, jumping 46.03% at the time of writing. No fundamental news has been released to justify the price spike.
Apellis Pharmaceuticals Inc. (APLS) was the biggest loser in the pre-market session, falling 31.67% at the time of writing. The sell-off comes a day after the company announced results from its phase 3 Derby and Oaks studies in Geographic Atrophy (GA). It plans to submit an NDA to the FDA in the first half of 2022.
In M&A news, JPMorgan Chase & Co. (JPM) has reached an agreement to acquire the restaurant discovery platform The Infatuation. The two are yet to confirm the terms of the deal. However, The Infatuation is expected to continue operating as a standalone brand under the investment bank once the deal closes. The acquisition is expected to boost JPMorgan’s prospects in the dining industry.
Meanwhile, Microsoft (MSFT) is teaming up with OYO to develop next-generation products for the travel and hospitality industry in a bid to improve business opportunities for hotels and homeowners. The two plan to come up with solutions that will enable patrons to operate small and medium-sized storefronts in the hospitality industry.
Verizon Communications Inc. (VZ) has inked a 10-year partnership agreement with the National Football League. The partnership will result in the use of its 5G network to enhance innovation and technology adoption in the league. The NFL will harness the 5G connection to enhance scouting, training, and game-day operations.
Facebook (FB) has joined forces with Ray-Ban to launch a new slate of smart glasses that can capture life’s spontaneous moments. Ray-Ban Stories is the name of the new smart glasses that will feature a 5MP camera for taking photos, videos, and sharing adventures. It is also configured to support listening to music and taking phone calls.
Amazon.com, Inc. (AMZN) is teaming up with consumer electronics giant Best Buy (BBY) to launch a new slate of Fire TV Smart TVs. The launch builds on a strategic partnership dating back to 2018, allowing the two to sell millions of TVs. The new set of Smart TVs is from the stables of Pioneer and Toshiba.
